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2949 N 48th Street Phoenix, AZ 85018

3 Beds 3 Baths 2,355 sqft Built 2003

$489,999

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $208.07
  • 5 Days on Market
  • MLS # : 6183053
  • Updated Date : 01/20/2021 at 03:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,355 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Fantastic centrally located home! Hardwood floors throughout first floor living areas, granite countertops, upgraded cabinets, gated courtyard, and huge 3rd bedroom with walk-in closet. New roof and HVAC units installed 2019 with transferable warranties. The community features a pool, sport court, dog park and has access to greenbelt/walking path across the street. Located minutes away from Old Town Scottsdale, Arcadia, Biltmore and Phoenix Sky Harbor Airport.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Artisan Commons

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $83k475k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Artisan Commons

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8622575

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Tavan Elementary School Primary Regular 718 43 5
Ingleside Middle School Middle Regular 772 33 7
Arcadia High School High Regular 1,731 72 5

Tavan Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 43
5
GreatSchools Rating

Ingleside Middle School

  • Education Level: Middle
  • # of students: 772
  • # of teachers: 33
7
GreatSchools Rating

Arcadia High School

  • Education Level: High
  • # of students: 1,731
  • # of teachers: 72
5
GreatSchools Rating
 

$440,999$538,999$489,999

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,702
Property Tax -$254
Property Insurance -$73
HOA -$167
Property Management Fees -$99
CASH FLOW
$315

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$489,999

PROJECTED PRICE

$2,610

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,499
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$58,125

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,009

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6503$2,7504$2,7505$2,999
$2,999
RENT COMPS ANALYSIS
  • 2949 N 48th Street Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,355 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,355 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3028 N 37th Place Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2019
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.23
    •  
  • 3720 E Earll Drive Phoenix, AZ 3
    • 4 beds 4 baths ∙ 2,223 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,223 Sqft ∙ Built 2018
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.24
    •  
  • 3020 N 37th Place Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2019
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.29
    •  
  • 2825 N 42nd Street #9 Phoenix, AZ 5
    • 3 beds 4 baths ∙ 2,229 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,229 Sqft ∙ Built 2017
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,999
    • $1.35
    •  
PROPERTY LISTING DETAILS
Alexander Van Loon
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6183053
Last Updated: 01/20/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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